Understanding purchase-side compliance is essential for any GST-registered business that desires to maintain clean records and hassle-free tax credits. The GSTR 2 has been created to get inward supply details…
Every GST registered business has to know the working mechanism of return filing even if certain returns are not actively used. GSTR 3 continues to be part of the GST…
The structure of GST in India was so designed to integrate the system of indirect taxation and ensuring there is fair balance of federalism. Before the advent of gst, Indian…
A notice under section 156 of income tax act is an official notice sent by the Income Tax Department, demanding payment of tax, interest, penalty, or an amount due following…
Assessment proceedings often start with a formal solicitation of facts, records and explanations. For the Indian taxpayers, a proper understanding of the working of section 142(1) of income tax act…
A notice or an order that bears a Penalty Under Section 73 of GST often places a dilemma in the minds of Indian businesses. Traders, manufacturers and service providers are…
GST law is such that taxpayers do not have to wait for an enforcement action and can make corrections in respect of truly made mistakes. Section 73(5) of GST serves…
Every business owner wants assurance when it comes in closing books at the end of the year. The section 43B of income tax act is there to eliminate this grey…
GST classification determines the rate of tax, accuracy of return, and safety of audit for all registered businesses. Confusion very often begins with the basic i.e., HSN Code vs SAC.…
Understanding tax deduction and all this is part of the day to day business of India. This is where Section 194C TDS comes in the situation Payments to contractors are…
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